Senate Democrats weigh in on why they believe the stock market is booming despite dark predictions about the Trump tariffs. (Credit: Nicholas Ballasy for Fox News Digital)

What’s the big picture? Trump’s legal theory for his tariff power rests on a 1977 law called the International Emergency Economic Powers Act. As the name suggests, it’s intended to address “unusual and extraordinary threat [s]” — not the president’s anger over critical ads by foreign governments.

Get the lowdown on the Musk vs. Navarro clash over tariffs, complete with insults like "dumber than a sack of bricks."

While the idea of tariffs may be well intentioned, how have these tariffs actually affected American households? Experts explained.

Several businesses are suing the Trump administration over the tariffs, arguing they are effectively a tax and need approval from Congress before they can be implemented. Solicitor […]

Industry leaders say uncertainty in funding, clinical development and manufacturing is driving companies to embrace digital transformation, streamlined operations and strategic partnerships to navigate a turbulent market and global tariff pressures.

Trump, who has used tariffs as a diplomatic and economic cudgel since coming into office, long has insisted that foreign nations are the ones putting money into U.S. coffers because of the levies. Economists say tariffs are paid by the consumers of the goods themselves.